CX Institutional Acquires 9,814 Shares of Corning Incorporated $GLW

CX Institutional raised its stake in shares of Corning Incorporated (NYSE:GLW) by 57.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,829 shares of the electronics maker’s stock after purchasing an additional 9,814 shares during the quarter. CX Institutional’s holdings in Corning were worth $2,201,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in Corning by 1.6% in the second quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock valued at $5,151,301,000 after acquiring an additional 1,582,895 shares during the period. State Street Corp boosted its stake in shares of Corning by 1.4% in the 2nd quarter. State Street Corp now owns 36,568,973 shares of the electronics maker’s stock valued at $1,923,162,000 after purchasing an additional 509,013 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Corning by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 19,443,525 shares of the electronics maker’s stock worth $1,018,629,000 after purchasing an additional 112,739 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Corning by 8.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock worth $724,432,000 after purchasing an additional 1,036,988 shares in the last quarter. Finally, Norges Bank bought a new position in Corning during the 2nd quarter valued at about $534,936,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Price Performance

Shares of GLW stock opened at $85.43 on Friday. The firm has a market cap of $73.24 billion, a price-to-earnings ratio of 54.07, a PEG ratio of 1.60 and a beta of 1.13. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $96.64. The company has a quick ratio of 1.00, a current ratio of 1.56 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average price of $86.50 and a 200 day moving average price of $75.20.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.66 by $0.01. Corning had a net margin of 9.16% and a return on equity of 18.12%. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same quarter last year, the firm earned $0.54 EPS. The company’s revenue for the quarter was up 20.9% on a year-over-year basis. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Research analysts expect that Corning Incorporated will post 2.33 EPS for the current year.

Analysts Set New Price Targets

GLW has been the topic of several research analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research note on Monday, December 29th. Wall Street Zen cut Corning from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 13th. Citigroup boosted their price objective on Corning from $93.00 to $99.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. JPMorgan Chase & Co. raised their target price on Corning from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Finally, Barclays upped their price target on shares of Corning from $65.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $93.09.

Insider Buying and Selling at Corning

In other news, SVP Stefan Becker sold 12,100 shares of the firm’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $91.28, for a total value of $1,104,488.00. Following the transaction, the senior vice president directly owned 5,049 shares in the company, valued at $460,872.72. This trade represents a 70.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Eric S. Musser sold 100,000 shares of Corning stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $90.17, for a total value of $9,017,000.00. Following the sale, the insider directly owned 44,926 shares of the company’s stock, valued at approximately $4,050,977.42. This trade represents a 69.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 156,135 shares of company stock valued at $14,088,769 in the last three months. Insiders own 0.40% of the company’s stock.

Corning Profile

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.